Outlook for the rest of the year remains uncertain; Q4 operating profit currently expected to be lower than Q3, but above Q4 last year

Commenting on the results, Feike Sijbesma, chairman of the DSM Managing Board, said: “DSM delivered strongly improved results for Q3 2009, with ongoing resilience in Nutrition and a further improvement in Materials Sciences compared to the previous quarters. Our early action to reduce costs, our focus on cash and our commitment to innovation and China are paying off.

“We are alert that the economic climate remains uncertain and that the path of recovery is likely to prove uneven. However, it seems that the first half of 2009 represented the low point for this recession and we are showing that we are well placed to capitalize as markets improve, which is also reflected in a strong sales volume development.

“Throughout these challenging times, DSM is staying the course. We completed the disposal of two non-core businesses and remain committed to exiting the remaining non-core operations. Our strategic commitment to create a Life Sciences and Materials Sciences company addressing important global trends via a focus on customers, innovation and sustainability is undiminished. Our robust financial strength allows us to capture market opportunities as they arise.”

Key figures

Q3 2009

Q3 2008

+/-

in € million

Jan - Sep 2009

Jan - Sep 2008

+/-

Continuing operations:

2,020

2,336

-14%

Net sales

5,727

7,045

-19%

257

361

-29%

Operating profit before depreciation & amortization (EBITDA)

562

1,011

-44%

139

237

-41%

Operating profit (EBIT)

229

685

-67%

119

104

14%

Nutrition

384

292

32%

2

22

-91%

Pharma

16

59

-73%

45

62

-27%

Performance Materials

45

212

-79%

21

19

11%

Polymer Intermediates

-5

85

2

85

-98%

Base Chemicals and Materials

-60

158

-50

-55

Other activities

-151

-121

Discontinued operations:

39

56

-30%

Net sales

123

161

-24%

26

34

-24%

Operating profit before depreciation & amortization (EBITDA)

80

105

-24%

26

30

-13%

Operating profit (EBIT)

72

95

-24%

Total DSM:

2,059

2,392

-14%

Net sales

5,850

7,206

-19%

165

267

-38%

Operating profit (EBIT)

301

780

-61%

100

181

-45%

Net profit before exceptional items

155

535

-71%

274

Net result from exceptional items

242

374

181

107%

Net profit

397

535

-26%

Net earnings per ordinary share in €:

0.51

0.97

-47%

before exceptional items, continuing operations

0.62

2.78

-78%

2.29

1.10

108%

including exceptional items, total DSM

2.40

3.20

-25%

You can find the press release in full, including financial statements, below.